TotalEnergies expands LNG supply deal in China to deliver 1.25M tons of LNG per year
TotalEnergies (NYSE:TTE) extends an agreement with CNOOC to supply 1.25 million tons of LNG annually to China until 2034, solidifying its position as a major global LNG player. The deal supports the company's aim to increase natural gas sales as a crucial transitional energy in China's shift away from coal for electricity generation. \"This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices,\" said Gregory Joffroy, Senior Vice President, LNG at TotalEnergies.
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